Stamps.com Inc. (STMP) Sees Large Volume Increase
Shares of Stamps.com Inc. (NASDAQ:STMP) saw strong trading volume on Tuesday . 1,399,977 shares traded hands during trading, an increase of 9% from the previous session’s volume of 1,290,182 shares.The stock last traded at $70.47 and had previously closed at $74.73.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Stamps.com from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. B. Riley reaffirmed a “buy” rating and set a $150.00 target price on shares of Stamps.com in a report on Friday, June 10th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Stamps.com in a report on Tuesday, July 12th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $111.60.
The company has a market capitalization of $1.24 billion and a price-to-earnings ratio of 122.37. The company has a 50-day moving average price of $87.08 and a 200-day moving average price of $94.46.
Stamps.com (NASDAQ:STMP) last announced its quarterly earnings results on Monday, May 9th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.66. The company had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $68.73 million. The business’s revenue was up 85.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Equities analysts expect that Stamps.com Inc. will post $6.02 earnings per share for the current year.
In related news, insider James Bortnak sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $83.97, for a total value of $419,850.00. Following the transaction, the insider now owns 6,093 shares of the company’s stock, valued at $511,629.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Several institutional investors have bought and sold shares of STMP. Employees Retirement System of Texas purchased a new stake in Stamps.com during the fourth quarter worth approximately $1,973,000. Matarin Capital Management LLC purchased a new stake in Stamps.com during the fourth quarter worth approximately $6,458,000. Redwood Investments LLC boosted its stake in Stamps.com by 49.3% in the fourth quarter. Redwood Investments LLC now owns 17,053 shares of the company’s stock worth $1,869,000 after buying an additional 5,629 shares during the last quarter. US Bancorp DE boosted its stake in Stamps.com by 11.7% in the fourth quarter. US Bancorp DE now owns 13,136 shares of the company’s stock worth $1,439,000 after buying an additional 1,373 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its stake in Stamps.com by 22.9% in the fourth quarter. Suntrust Banks Inc. now owns 14,856 shares of the company’s stock worth $1,627,000 after buying an additional 2,767 shares during the last quarter.
Stamps.com Inc is a provider of Internet-based mailing and shipping solutions. The Company operates through the Internet Mailing and Shipping Services segment. Under the Stamps.com and Endicia branded solutions, the Company’s customers use its service to mail and ship a range of mail pieces, including postcards, envelopes, flats and packages, using a range of United States Postal Service (USPS) mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, and Parcel Select, and among others.
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